Steel Authority Of India (SAIL) along with Tata Steel is planning to acquire coal assets abroad in order to ensure continuous supply of cooking coal, according to media report.

Recently International Coal Ventures (ICVL), a joint venture Company of Steel Authority of India, Coal India, Rashtriya Ispat Nigam, NMDC and NTPC has signed an agreement for acquisition of 2.6 billion tons coal resource in Mozambique with Rio Tinto, UK.

Shares of the SAIL declined Rs 1.35, or 1.56%, to trade at Rs 85.30. The total volume of shares traded was 155,501 at the BSE (11.42 a.m., Thursday).